Former Chairman and CEO of HCA Healthcare Joins FB Financial Board

Rhea-AI Summary

FirstBank appoints former HCA Healthcare Chairman and CEO, Milton Johnson, to its board of directors and FB Financial Corporation. Johnson's extensive experience in the healthcare industry and leadership roles positions him to contribute to the strategic growth and success of the bank. His appointment will be effective on March 1, 2024.

Financial Analyst

The appointment of Milton Johnson to the board of directors of FirstBank and FB Financial Corporation may signal strategic positioning by the bank to deepen its expertise in the healthcare sector. Johnson's extensive background in healthcare finance and management could provide valuable insights into potential lending opportunities, risk assessment and strategic partnerships within this industry. His tenure at HCA Healthcare, a significant player in the healthcare field, suggests an intimate understanding of the financial complexities unique to healthcare organizations.

From a financial perspective, this appointment could indicate FirstBank's intent to bolster its advisory capabilities and perhaps tailor financial products to better serve healthcare providers. This could potentially open up new revenue streams for the bank and enhance its competitive edge in a sector that requires specialized knowledge. Investors and stakeholders might expect new initiatives or financial instruments catering to the healthcare industry, which could impact the bank's financial performance positively if executed effectively.

Healthcare Industry Analyst

The healthcare industry is known for its regulatory complexities and the need for significant capital investment. With the addition of a healthcare veteran to FirstBank's board, the bank may be able to navigate these complexities more effectively, potentially leading to a more robust risk management framework when dealing with healthcare clients. Johnson's experience could be particularly beneficial in understanding the financial needs and challenges faced by healthcare providers, especially in light of recent shifts towards value-based care and increased technology adoption in healthcare.

Furthermore, Johnson's network and reputation in the healthcare industry could serve as a catalyst for FirstBank in securing high-value clients within the healthcare sector. His past leadership roles, including his chairmanship at the Nashville Health Care Council, could provide FirstBank with insider perspectives on emerging trends and policy changes, which are crucial for long-term strategic planning. These insights could be a significant advantage for FirstBank as it seeks to expand its footprint within the healthcare finance niche.

Corporate Governance Expert

Corporate governance plays a crucial role in shaping the strategic direction and ethical framework of any financial institution. The appointment of a seasoned executive like Milton Johnson to FirstBank's board could enhance the bank's governance structure, bringing in fresh perspectives and a proven track record of leadership. His experience in managing a large healthcare corporation could translate into improved oversight and strategic decision-making at the board level.

Johnson's history of serving on various boards and committees indicates a deep understanding of corporate governance best practices. His expertise could be particularly valuable in ensuring that FirstBank's growth strategies are aligned with regulatory requirements and ethical standards, which is essential for maintaining investor confidence and corporate reputation. His role in academic and chamber of commerce boards also suggests a commitment to community engagement, which could reinforce FirstBank's community bank image and strengthen its local market presence.

FirstBank strengthens its board of directors with the addition of respected healthcare veteran

NASHVILLE, Tenn., Feb. 5, 2024 /PRNewswire/ -- FirstBank today announced that Milton Johnson, former Chairman and CEO of HCA Healthcare, has been appointed to the board of directors of the bank and FB Financial Corporation, its holding company.

A prominent figure across the healthcare industry, Johnson had a 37-year tenure at HCA and served in various financial and senior management positions before retiring as Chairman of the Board in 2019. HCA is one of the largest healthcare providers in the U.S., with 186 hospitals and approximately 2,400 sites of care in 20 states and the UK.

"Milton brings to our board of directors a wealth of knowledge and a track record of success through his decades of leadership," said Chris Holmes, President and CEO. "His involvement will be instrumental in shaping the strategic direction of the bank's growth and success."

Throughout his professional career, Johnson has served with various organizations and boards. He is currently the Chair of the Belmont University Board of Trustees, his alma mater, and has also served on the board's executive committee and academic affairs committee. Additionally, Johnson is past chairman of the board of the Nashville Health Care Council and past chairman of the board of the Nashville Area Chamber of Commerce.

"FirstBank is a leading community bank with a reputation of excellence in this field, and it's my privilege to serve on the board," said Johnson. "I look forward to collaborating with other board members as we navigate the financial landscape, foster growth, and maintain a strong connection to the local community."

Johnson's appointment will be effective March 1, 2024.

About FirstBank 

FirstBank, a wholly owned subsidiary of FB Financial Corporation (NYSE: FBK), has approximately $12.6 billion in total assets, ranking it in the top 3% of all U.S. commercial banks. Since 1906, local banking has remained at the forefront of FirstBank's approach to serving businesses, families, and individuals within the communities it calls home. FirstBank is headquartered in Nashville, Tennessee, and has 81 full-service branches across Tennessee, South Central Kentucky, Alabama and North Georgia along with mortgage offices throughout the Southeast.

Contact: Staci Kirpach, Staci.Kirpach@FinnPartners.com

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SOURCE FirstBank

Who has been appointed to the board of directors of FirstBank and FB Financial Corporation?

Milton Johnson, former Chairman and CEO of HCA Healthcare.

What is the effective date of Milton Johnson's appointment?

March 1, 2024.

What is Milton Johnson's background in the healthcare industry?

Johnson had a 37-year tenure at HCA and served in various financial and senior management positions before retiring as Chairman of the Board in 2019.

What is Milton Johnson's current role at Belmont University?

He is the Chair of the Belmont University Board of Trustees, his alma mater.

What is Milton Johnson's past involvement in the Nashville community?

He is past chairman of the board of the Nashville Health Care Council and past chairman of the board of the Nashville Area Chamber of Commerce.